News Briefs
Private Banks Look to Asia
03/13/2006

India and Korea will lead the Asian wealth management market for the next three years, according to a recent survey conducted by Barclays Capital. Assets controlled by wealth management firms are expected to increase in both countries by 17 percent.

The Chinese wealth management market is expected to grow by 14 percent, followed by South East Asian and Taiwan (13 percent), Hong Kong (11 percent), Australia and New Zealand (10 percent).

Barclays also found that affluent Asian investors prefer equity over other asset classes; credit or debt-related products are their second choice. Foreign exchange remains their most popular derivatives-based asset class, followed by commodities.